(With links to how-to videos from Money Magazine)
It doesn’t matter whether you’re in your 20’s or almost ready to retire: A good superannuation strategy can make the difference between a comfortable retirement and a financial struggle.
The Government continues to make changes to how you receive the aged pension in retirement, therefore the amount of superannuation you save has never been more important. Latch onto a good superannuation strategy right now and it could pay off big when you retire. (Want to retire early? Don’t just dream about it – get to work on it!)
Not sure where to start? Have a look at a the superannuation strategy video series put together by Effie Zahos and Money Magazine. Just click an image below that matches your age. MoneyMag has some great starter ideas about how you can make the most out of your superannuation.
Here’s an interesting superannuation strategy video series from Money Magazine:
Etax Superannuation Resources
At Etax Accountants our clients often ask about superannuation. Based on that feedback, we’ve put together a series of posts on superannuation…
- Find your lost super: Tens of thousands of Australians have more than one super account. Sometimes that’s for a good reason, however, sometimes it could be a mistake that means extra fees will eat into your savings. Multiple accounts can also add complexity to your finances and, in some cases, lead to lost or forgotten super savings. This article explains how to find your lost super and more.
- Superannuation Tips: Similar to the Money Magazine videos, these tips will help you develop your own superannuation strategy.
- How much super do you need to retire: You’ve put together your superannuation strategy, but do you know how much super you’ll actually need for retirement?
- What you need to know about super: This article outlines the basics about the compulsory superannuation payments made by your employer. We also cover voluntary superannuation payments you can make to help boost your superannuation.
- Superannuation Co-contribution: For low income earners the super co-contribution scheme is a great strategy to help grow your superannuation. The Government will actually chip in up to $500 per year for those who qualify. (Free money from the Government seems like a good idea!)
- Superannuation Contribution Limits: Details about how much super you can contribute each year without getting hit by higher tax rates.
This article is general, informal information and is not intended as detailed advice for managing your finances. For detailed advice about financial and retirement planning you should speak with a licensed financial planner or superannuation advisor. Etax Accountants is not connected with Money Magazine, but we think they have some good content that can help people learn more about managing money.